Is the US Downgrade Such AAA Big Issue?.Morningstar OBSR reveals the top funds for investors seeking exposure to European equities Morningstar reveals the top 10 best performers over the last five years How to Find Solid Dividend-Paying Stocksīusinesses that have competitive advantages within their industry are good candidates for dividen.THE WEEK: Morningstar columnist Rodney Hobson provides two pieces of advice to George Osborne, an. Advice for George Osborne and Stock Market Regrets.Mining companies are operating in a challenging environment but could now be the time to top up o. Are FTSE Mining Companies Cheap Right Now?.IQGeo Group PLC - Cambridge-based developer of geospatial productivity and collaboration softwa. IN BRIEF: Kestrel buys GBP123,420 IQGeo shares, director's wife sells.(Alliance News) - The Financial Times on Friday reported that International Consolidated Airlin. PRESS: IAG agree 13% pay rise for 24,000 staff - Financial Times.(Alliance News) - The US Food & Drug Administration has approved Zurzuvae, zuranolone, 50 mg fo. Biogens, Sage Therapeutics postpartum depression treatment approved.Please ignore incorrect coding of Shield. (Correcting the name of Sage Therapeutics Inc. CORRECT: Biogens, Sage Therapeutics postpartum depression drug okayed.Utilities have produced a zero return over the past five years, but Premier Asset Management inve. Their achievements in building Gresham House over the past eight years to its position as a leading natural capital and sustainability focused asset manager have been hugely impressive."īy Sophie Rose, Alliance News reporter and Will Neill, Alliance News reporterĬomments and questions to 2023 Alliance News Ltd. Searchlight Partner James Redmayne said: "We are excited to invest in Gresham House and partner with Tony Dalwood and his highly talented management team. Searchlight said it "sees significant potential from supporting Gresham House". Searchlight said it was attracted by Gresham House's position as a "leading asset manager in sustainable alternative asset classes" in the UK, and valued its structure, strategy, and management. The Gresham House directors said they recognised the offer represented "an attractive opportunity" for shareholders in the current disruptive economic environment. We are confident that Searchlight will accelerate our international and domestic growth strategy and their long-term capital and global expertise will support and enhance our investment teams' ability to deliver returns to clients." Gresham House Chair Anthony Townsend said: "The acquisition by Searchlight starts a new and exciting chapter for Gresham House. "There is no change expected to the relationship between the company and the investment manager, and the Gresham House leadership team and all key individuals that have managed GRID since its IPO in 2018 will remain in place," GRID added. GRID said that its investment manager is Gresham House Asset Management Ltd which is wholly owned by Gresham House. Gresham House actively manages GBP8.00 billion in assets across the UK, Ireland, Australia, and New Zealand. Searchlight said the bid is final and will not be upped. The acquisition price represents a 63% premium to the 680 pence closing price of Gresham House on Friday, and implies an enterprise value multiple of around 16 times Gresham House's earnings before interest, tax, depreciation, and amortisation for the year ended December 31. The offer values Gresham at around GBP469.8 million on a fully diluted basis, or GBP440.6 million on an enterprise value basis. Gresham House said it had agreed with Seed Bidco Ltd, a newly incorporated entity formed by funds advised by Searchlight, on a final 1,105 pence per share bid. Meanwhile, shares in Gresham House Energy Storage Fund closed up 0.2% to 134.27p each. Shares in alternative asset manager Gresham House closed up 55% at 1,057.00 pence, giving it a market capitalisation of GBP404.6 million in London on Monday afternoon. (Alliance News) - Gresham House Energy Storage Fund PLC on Monday noted that Gresham House PLC has agreed to be taken over by Searchlight Capital Partners LP.
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